A 15% penalty surcharge on earnings retained in a corporation to avoid the higher personal income taxes to which they would be subject if paid out as dividends to the owners.
Corporation Tax (CT) is a tax charged on the total profits of a company resident in the UK during each accounting period. The rate of corporation tax varies depending on the level of profits of the company.
A tax holiday is a government incentive program that offers a temporary reduction or elimination of tax payments for businesses, providing economic impetus for specific activities such as export growth or new industry development.
